Advanced Wealth Builders
Elite Provider Annuity

Elite Provider: Americo

Giving you flexible benefits and choices.

“Americo and it’s family of insurance companies have been committed to providing the life insurance and annuity products you need to protect your mortgage, family, and future for over 100 years.  Innovative thinking has helped Americo and it’s family to build a strong financial business foundation.”

Whether retirement is just around the corner or 30 years down the road, you want to put your money into a vehicle that will grow safely over the long-term and provide you with the financial security you need.  Annuities offer you the advantage of tax-deferred growth as well as the option of receiving guaranteed monthly income.  Unlike any other financial product, annuities can provide you with an income you can’t outlive.  Sometimes, finding a product that offers this benefit, as well as the potential to outpace inflation and suit your level of risk tolerance, can be difficult.  Take a closer look at Elite Provider offered by Americo Financial Life and Annuity Insurance Company.


Elite Provider is an indexed flexible premium deferred annuity that is based on the performance of the S & P 500 Index ®.  It offers you the benefit of long-tern guaranteed income plus the flexibility to choose your interest crediting method as well as ability to change the method every year. 

Secure, safe, and stable

The interest that your Elite Provider annuity earns is based on the performance of the S& P 500 Index ®.  The S & P 500 Index ® measures stock market price movements based on the average performance of 500 widely held common stocks.

Because your annuity interest is based on the performance of the S & P 500 Index ®, you have the potential to earn more than you would with a traditional fixed rate annuity but without the downside risk of investing directly in the stock market. 

With Elite Provider, your indexed interest is guaranteed to never fall below zero even in a down market.  In addition, your interest is calculated at the end of the year and locked in.  You cannot lose those earnings if Index values go down in future years. 

Access to cash

While you should make every effort to give your money time to grow, sometimes circumstances require that you access your money earlier than expected.  Elite Provider allows you to access your money earlier than expected.  Elite Provider allows you to access your money using several different options:

·        Withdraw up to 10% of your Accumulation Value each year after the first year.

·        Systematic Monthly interest income may be selected from your Declared Interest Account after the policy has been in force for 30 days.  Interest paid under this option is considered a withdrawal under the 10% annual penalty-free withdrawal privilege. 

·        Access your entire Accumulation Value with no surrender charges if you are confined after issue to a qualified nursing home or hospital for at least 90 consecutive days, with the Waiver of Surrender Charge Upon Nursing Home or Hospital Confinement. Not available in all states.

·        A guaranteed income for life.  Your accumulation value may be converted into a guaranteed income, after the 5th policy year, for at least 5 years.  Unlike many other financial product, an annuity can provide you with an income you can’t outlive.  Various income options are available, including single and joint life options.  Not available in all states. 


Multiple Crediting Options

When you make a contribution to an Elite Provider indexed annuity, you have a choice of five interest rate crediting options that will determine how you earn interest.

·        Monthly Averaging, S & P 500 Index ® without a Cap

·        Monthly Averaging, S & P 500 Index ® with a Cap.

·        Point-to-Point, S & P 500 Index ® without a Cap

·        Point-to-Point, S & P 500 Index ® with a Cap

·        Declared Interest Option

 

Premiums can be divided among multiple indexed interest rate crediting options and a declared interest option that guarantees the rate will never go below a specified minimum.  You can select one or more options, as long as the premium allocated to each is at least $50.  you have the ability to change your interest rate crediting option at the end of the crediting period.

 

Tax-Deferred growth
Under current tax laws, interest compound tax-deferred allowing your money to grow faster in your Elite Provider annuity until you withdraw your money.

Neither Americo Financial Life and Annuity Insurance Company nor any agent representing Americo Financial Life and Annuity Insurance Company is authorized to give legal or tax advice.  Please consult a qualified, professional legal or tax advisor regarding the information and concepts contained in this material.


Definitions                                                                                     
 

Accumulation Value: The accumulation Value of the annuity is the sum of all Declared Interest Accounts, plus all Participation Accounts, plus all premiums and interest not yet allocated.

Cash Surrender Value:  The Cash Surrender Value of the greater of (a) the Accumulation Value less the Surrender Charge, less any applicable Premium Taxes (see below), or (b) the Guaranteed Minimum Value (see below), less any applicable Premium Taxes.

Free Look Period: You may cancel Your annuity contract within a certain number of days after it is delivered to You and receive a complete refund of premium.  Please refer to Your annuity contract for details. 

Guaranteed Minimum Value:  The Guaranteed Minimum Value is the sum of 87.5% of Your premium payments We receive, less any Partial Surrenders (excluding Surrender Charges), plus daily interest compounded at the contractually guaranteed minimum interest rate.

Partial Surrenders: Any Partial Surrenders (withdrawals) will be deducted from your Declared Interest Accounts first and then from Participation Accounts on a last-in, first-out basis.  The minimum Partial Surrender is $500, and a Partial Surrender may not reduce the Cash Surrender Value to less than $2,000.

Premium Taxes: Premium Taxes do not apply in all jurisdictions.  If Your state charges a Premium Tax, We will deduct this tax from Your premium payments or from the proceeds of this annuity contract depending on the laws of Your state.

Surrender Charge: Any Withdrawals, full or partial, are subject to a Surrender Charge, as set forth in the following table.  To determine the Surrender Charge, multiply the amount withdrawn by the applicable percentage in the table. 

Year

1

2

3

4

5

6

7

8

9

10

11+

Rate

12%

11%

10%

9%

8%

7%

6%

5%

4%

2%

0%

 

Annuitization: You can receive periodic income payments from Your annuity.  When You annuitize, You can choose from several options, including options that provide income for life and/or for a specific period of years.  Once You have chosen to annuitize Your contract, you may not surrender it or have access to any values of Your annuity, other than Your income payments.  Please refer to the annuity contract for details. 

Withdrawals:  After the first contract year, You may withdraw up to 10% of the Accumulation Value once each year with no surrender (withdrawal) charge.

Death Benefit: If the owner dies while this annuity contract is in force and before annuity payments are scheduled to begin, We will pay a Death Benefit to the beneficiary after We receive all proof-of-death requirements.  The Death Benefit is the greater of the Accumulation value less applicable Premium taxes, or the Guaranteed Minimum Value.  These values are determined as of the date of the last of the requirements that We require to process the death claim are received by Us at Our office.  Please refer to the annuity contract for details. 

Transfers: You may transfer part, or all, of the value under an option to a different option at the end of each term Period or Index Period.  We must receive Your transfer instructions in [Americo’s] Home Office at least 15 days before the Term Period or Index Period ends.  Transfers are subject to minimums.  Please see your annuity contract for details. 

Contact Us to receive a report showing what $100,000 invested in this product will grow to based on it's past performance.  This will illustrate what your money would do in a good market, bad market and average market over time.